Another CRA letter on why particular association does not qualify for the tax exemption contained in paragraph 149(1)(l) of the Act because “The Association is operating a retail operation with the intention of earning a profit.”

Here is the CRA summary of the letter;

PRINCIPAL ISSUES: In our view, does the Association qualify for the tax exemption contained in paragraph 149(1)(l) of the Act?
POSITION: No.
REASONS: The Association is operating a retail operation with the intention of earning a profit.